Belarus - Raiffeisen Bank International AG
Belarus - Raiffeisen Bank International AG
Belarus - Raiffeisen Bank International AG
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9.2. Legal & Foreign Exchange Regulations<br />
28<br />
Current Accounts<br />
• Corporate customers may open more than one current account in local currency and in any foreign<br />
currency.<br />
Domestic Payments<br />
• Any payment in local currency from one bank to another bank is processed by <strong>Belarus</strong>ian Interbank<br />
Settlement Center. All domestic payments must contain the payment title (purpose of payment). All payments<br />
are performed to the day.<br />
• Domestic payments no more than 50 mln. BYR (LCY) execute by STP (straight-through-process).<br />
Foreign Payments<br />
• Any payment in a foreign currency is treated as a cross-border payment and is sent through correspondent<br />
banks because there is no clearing center for foreign currency in <strong>Belarus</strong>. All incoming and outgoing<br />
cross-border payments must have a payment title (purpose of payment) and correspond to<br />
foreign exchange regulations. Foreign payment terms are regulated according to the decree 178<br />
(27.03.2008) of the President of the Republic of <strong>Belarus</strong>.<br />
Cash Payments / Withdrawals<br />
• Cash payments between corporates (entrepreneurs) are restricted to definite purpose and amount.
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